Quantum (NASDAQ:QMCO) Price Target Raised to $20.00

Quantum (NASDAQ:QMCO) had its price target raised by equities researchers at Lake Street Capital from $5.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Lake Street Capital’s price target suggests a potential downside of 10.91% from the stock’s previous close.

Separately, Northland Securities reaffirmed a “market perform” rating and issued a $5.00 target price (up from $0.25) on shares of Quantum in a research report on Thursday, November 14th.

Quantum Trading Down 10.2 %

Shares of QMCO stock traded down $2.55 during trading on Wednesday, reaching $22.45. The company’s stock had a trading volume of 1,054,284 shares, compared to its average volume of 1,848,796. Quantum has a 1-year low of $2.22 and a 1-year high of $90.64. The stock’s 50-day moving average price is $31.39 and its 200 day moving average price is $14.13.

Insiders Place Their Bets

In related news, CFO Kenneth P. Gianella sold 1,487 shares of Quantum stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $35.68, for a total transaction of $53,056.16. Following the completion of the transaction, the chief financial officer now directly owns 33,681 shares of the company’s stock, valued at approximately $1,201,738.08. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James J. Lerner sold 2,511 shares of Quantum stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $35.68, for a total value of $89,592.48. Following the transaction, the chief executive officer now directly owns 107,804 shares of the company’s stock, valued at $3,846,446.72. This trade represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,490 shares of company stock valued at $316,162 over the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in Quantum in the fourth quarter valued at approximately $226,000. Arkadios Wealth Advisors acquired a new position in shares of Quantum in the 4th quarter valued at $466,000. Finally, UNICOM Systems Inc. purchased a new stake in shares of Quantum during the 4th quarter valued at $4,057,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Quantum

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.